Special offer

My Credit Scores Need Anger Management Class!!

By
Real Estate Agent with KW Hometown 1756879

My Credit Scores Need Anger Management Class!!

Boo hoo hooHave you ever done something just to spite someone? Sure, we all have. Somehow it makes people feel a little better to act like a jerk or dis somebody.  Well I'm here to tell you that getting mad at creditors and not paying your bills out of spite will hurt nobody but yourself!

There's a good chance that the mega bank with 40,000 employees won't feel that spiteful sting when you decide to hurt them by not paying your bill(s). However, your credit can take a beating, now and for years to come.

First the situation hurts your ego. So you open that can of spite and decide to not pay on an account. Next it hurts your credit scores as payments are continually missed. Sometime later it hurts your pocket as lower credit scores cause you to get less desirable loans on other accounts. And if really played out, we are talking wage garnishment. It is official: Your spite just ruined your entire life's finances.

Seem silly? Maybe. Have people done this. ABSOLUTELY!! On anything from a $10 copay to a car repossession to even a house payment.

So next time take a deep breath, forget about the idiot worker that called you with the attitude, and pay your bills. Big or small. In the end it will not only feel right, it IS right.

Credit Links

Credit Scoring - What Makes Up My Credit Score? (1 of 6)

Credit Scoring - Payment History (2 of 6)

Credit Scoring - Balances (3 of 6)

Credit Scoring - History (4 of 6)

Credit Scoring - Mix of Accounts (5 of 6)

Credit Scoring - Inquiries (6 of 6)

 

Steve Kappre is a mortgage loan officer in New Jersey. For more info or questions feel free to contact Steve.

  • NJ First Time Home Buyer
  • Purchase, refinance, rehab loans
  • Conventional, FHA, USDA, VA, HMFA, First Time Home Buyer, Police and Fire, Live Where You Work, and more

Call direct @ 856-419-3561 | Subscribe to Steve's blog via e-mail

Comments(8)

Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Why anyone would think a bank would care is just being plain silly!

Mar 08, 2010 10:55 PM
Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

Good advice Steve!  There are times to fight the fight, but with a bank or other creditors pay first, argue later!

Mar 08, 2010 11:09 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Laura is right on that.....pay first, fight later.....

Mar 08, 2010 11:13 PM
Dale Terry
Yadkinville, NC

The only thing I disagree with is that it hurts your finances for life.  The banks are already trying to lend to those with blemished credit.  They need clients, remember how we got here?

Mar 08, 2010 11:16 PM
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Bill - Spite is a bad thing!

Laura - 9 times out of ten you are right!

Barbara - :)

HRG - I agree. The credit won't be affected FOREVER, but it can be many years, especially if it is not worked on and if no new debt is added that is good debt.

Mar 08, 2010 11:50 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Excellent advise..Steve

Mar 09, 2010 10:29 AM
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Good stuff Steve. Some people do just get mad and say 'forget it'. They are not thinking of how it effects them.

Mar 09, 2010 12:40 PM
Sheldon Neal
Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ
That British Agent Bergen County NJ

Ah yes - current day Anger Management Needs !

it's prevalent in many areas with this economy, but acts that can hurt your credit are not ones to fool around with.

 

Good reminders bud.

Mar 09, 2010 01:23 PM